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CHEMICAL LEAMAN CORPORATION ANNOUNCES THIRD QUARTER 1991 RESULTS

    CHEMICAL LEAMAN CORPORATION ANNOUNCES THIRD QUARTER 1991 RESULTS
    EXTON, Pa., Nov. 7 /PRNewswire/ -- Chemical Leaman Corporation (NASDAQ: CLEA), whose subsidiaries include Chemical Leaman Tank Lines Inc. and NuBulk Services Inc., today reported net income of $363,742 or 41 cents per share for the three months ended Sept. 29, 1991, compared with earnings of $112,110 or 13 cents per share in the prior year's period.
    The results were achieved even though revenues dropped from $57,216,621 in 1990 to $55,182,235 in the current year.
    For the nine-month period, net income was $194,515 or 22 cents per share compared with $362,924 or 41 cents per share in 1990.  Revenues declined to $166,770,721 from $175,834,846 in 1990.
    Chemical Leaman President David R. Hamilton stated, "Despite the continued low levels of activity in the chemical process industries we serve, we have remained profitable in the quarter, and also returned to profitability on a year-to-date basis.  This we believe to be the direct result of an intensive cost reduction focus begun earlier this year."
    Chemical Leaman Corporation is a Fortune 500 service company and the nation's largest bulk commodity distribution company that provides transportation of liquid, dry and gaseous bulk commodities; tank container hauling and maintenance; cleaning services for industrial transportation equipment and technical assistance on handling commodities in bulk.  Its services are available in 49 states, Canada and Mexico.
               CHEMICAL LEAMAN CORPORATION AND SUBSIDIARIES
                     Comparative Financial Report
    Three months ended              Sept. 29, 1991   Sept. 30, 1990
    Operating revenue                 $55,182,235      $57,216,621
    Net income                            363,742          112,110
    Net income per share                     $.41             $.13
    Weighted average common and
     common equivalent
     shares outstanding                   895,665          895,665
    Nine months ended               Sept. 29, 1991   Sept. 30, 1990
    Operating revenue                $166,770,721     $175,834,846
    Net income                            194,515          362,924
    Net income per share                     $.22             $.41
    Weighted average common and
     common equivalent
     shares outstanding                   895,665          895,778
    /delval/
    -0-                      11/7/91
    /CONTACT:  Charles E. Fernald Jr., senior vp-finance of Chemical Leaman, 215-363-4215/
    (CLEA) CO:  Chemical Leaman Corporation ST:  Pennsylvania IN:  CHM SU:  ERN KA-CC -- PH023 -- 2300 11/07/91 14:24 EST
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Publication:PR Newswire
Date:Nov 7, 1991
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